Mel Morris set to sell Championship club Derby County for just £1

Mel Morris set to sell Championship club Derby County for just £1

Mel Morris, Derby County owner, is reportedly planning to sell his Championship outfit in a deal valued around £1.

The English businessman according to the Times is primarily focused on selling the club for that price as long as his debts will be repaid.

After becoming the sole owner in 2015, Morris has invested over a £100 million in the club - a figure which has increased by £61 million after about four years according to the Times.

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Reports also claim the Rams are losing about £1 million to £2 million every single months owing to the £95 million Morris lent the holding company who own Derby, Sevco 5112.

Derby are eighth on the Championship table with 56 points from 37 matches - 22 points behind current leaders Norwich City.

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However, they are already attracting interests from businessmen from the United States and also the far east but former bid is yet to be made.

Reports claim that: "Morris is understood to have received several proposals from interested parties willing to take on a percentage of the club’s debt to him, plus the promise of further staged payments if Derby are promoted to the Premier League, but has yet to find any acceptable and is holding out for a better deal."

Legit.ng earlier reported that former Chelsea defender Ashley Cole has completed a move to Championship side Derby County this January.

The 38-year-old ex England international will now be under his old teammate at Chelsea Frank Lampard who is presently the gaffer of Derby County.

Cole had been plying his trade in America at MLS club LA Galaxy for the last three seasons including as captain last year.

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Source: Legit.ng

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